President Trump announces 90-day pause on tariffs except for China
How Trump's tariffs could have lasting impacts
While President Donald Trump’s tariff turn-around was welcome news for many, it also represents a broader concern for some. FOX 5’S Josh Rosenthal is in the Northwest D.C. tonight to explain some of the possible unintended consequences that could hit our region especially hard.
WASHINGTON, D.C. - In a recent post on Truth Social, President Donald Trump announced a 90-day pause on tariffs except for China, raising the countries' tariffs to 125%.
Trump's 90-day pause on tariffs
What they're saying:
Trump stated in the post,"At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other countries, is no longer sustainable or acceptable."
The news sent stocks surging, with the Dow up 1,800 points.
EU, China issue retaliatory tariffs
The U.S. stock market shook Wednesday after China and the E.U. issued retaliatory tariffs in the trade war with the U.S. FOX 5’s Guy Lambert spoke with political analysist Timothy Alan Simon for the latest.
Global markets surged on the development, but the precise details of Trump's plans to ease tariffs on non-China trade partners were not immediately clear, the AP noted.
Read the president's full post below:
Read the president's full post below:
The Source: Information from The Associated Press was used to write this report.